With its own WiFi and 3G versions, it was no brainier that the iPad won’t tether with the iPhone. However, it took and email to Steve Jobs by someone to confirm the same. And here is the reply from Apple CEO – NO!
Apparently Jezper Söderlund emailed Steve Jobs and asked “Will the wifi-only version [of the iPad] somehow support tethering thru my iPhone?”. The reply was “No.” Full headers of the email here.